Europe’s damaging vitality insurance policies – Econlib

In a Republican advert throughout Ronald Reagan’s 1980 run for president, a Tip O’Neill lookalike was drivingwhereas oblivious to the truth that his automotive was working out of fuel. The which means meant by the Republicans was that the Democrats paid no consideration to the mess the nation was in, a large number they helped create. However what I took away was extra literal: the concept that the Democrats’ vitality coverage, one of many worst moments of Jimmy Carter’s 4 years, was a catastrophe that Democrats refused to confess. (Earlier presidents Richard Nixon and Gerald Ford truly began the fallacious insurance policies, however that is one other story.)

I’ve the identical response immediately once I have a look at vitality coverage in Europe. Besides this time, one of many proponents of damaging vitality coverage, Britain’s Liz Truss, claims the position of free-market advocate and former Prime Minister Margaret Thatcher. In stating its coverage, it ignores some very basic financial elements. And the European Union is making comparable errors.

That is from David R. Henderson,”Europe’s damaging vitality coverage“, outline conceptsSeptember 22, 2022.

And Ursula von der Leyen from the European Fee:

In making her proposal to tax producers extra closely, European Fee President Ursula von der Leyen declared, “In these occasions, it’s fallacious to obtain extraordinary document income benefiting from conflict and on the backs of customers.” She added, “The advantages must be shared and channeled to those that want it most.” Karl Marx couldn’t be reached for remark.

Learn it the totality.

Replace: I made a serious mistake above and within the unique article, as identified within the first remark beneath. I’ve now corrected the article. Because of this, I eliminated the inaccurate passage on the Truss plan from this put up.